CLC 056 ANALYZING CONTRACT COSTS
ACTUAL EXAM PAPER 2026 QUESTIONS
WITH ANSWERS GRADED A+
◍ When is it most appropriate to document or model a contractor's proposal?.
Answer: - When the value, importance, and complexity warrant the
modeling.
◍ After you have reviewed the contents of the proposal and determined the
scope of the audit necessary, select the correct order of the steps required to
request Audit Assistance..
Answer: Query all acquisition team members. Contact the cognizant agency
by phone to tell them of the upcoming request and to determine the means
of communication acceptable for the assistance request.Commit your
request to writing.
◍ True or False: The contracting officer is not authorized to award a
CAS-covered contract until the Cognizant Federal Agency Official (CFAO)
makes a written determination that the Disclosure Statement is adequate..
Answer: True
◍ This exists when one or more contract line item is significantly overstated or
understated as indicated by the application of cost or price analysis
techniques..
Answer: Unbalanced pricing
◍ Single-source Procurements.
Answer: You need to remember that you CANNOT force a final price/cost
that will be below cost on the offeror, even if you believe that the offeror
has the financial ability to absorb the probable loss. Instead, negotiate a
contract with a type and price that is likely to cover all allowable costs of
, performance, assume reasonable economy and efficiency, and provide a
reasonable profit. Review FAR 15.404-4 and DFARS 215.404-4 on profit
analysis. Ensure your opening position is based on a more optimistic reading
of the potential production improvements, risks, and costs of providing the
contract deliverable rather than targeting price.
◍ What steps are involved in the overhead rate development process? Select
all of the correct answers..
Answer: -Estimate indirect cost allocation bases-Estimate indirect cost
rates-Estimate indirect cost pools for the period-Estimate sales volume
◍ Which of the following questions should you ask to identify any proposed
direct material that should be classified as an indirect cost?.
Answer: Is the material cost proposed and accounted for in a manner
consistent with the contractor's disclosure statement and documented
accounting practices?Has the offeror consistently treated material similar to
the proposed material as direct material?
◍ The DD Form 250, Material Inspection and Receiving Report, serves as
evidence of inspection and acceptance, shipping document, receiving
document, and contractor invoice for supplies and services..
Answer: True
◍ Which one of the following is a characteristic common to fixed-price
contract types?.
Answer: The contractor is obligated to deliver a specific supply or service
(CORRECT)
◍ What are the exemptions to the CAS?.
Answer: Exemptions to the Cost Accounting Standards are if contracts are
based on established or market prices or fixed by law or regulation, small
businesses, and all contracts awarded using sealed bidding.
◍ What is the range for the following numbers? 13, 12, 9, 15, 11, 16, 17, 8, 12,
7, 12.
Answer: 10
ACTUAL EXAM PAPER 2026 QUESTIONS
WITH ANSWERS GRADED A+
◍ When is it most appropriate to document or model a contractor's proposal?.
Answer: - When the value, importance, and complexity warrant the
modeling.
◍ After you have reviewed the contents of the proposal and determined the
scope of the audit necessary, select the correct order of the steps required to
request Audit Assistance..
Answer: Query all acquisition team members. Contact the cognizant agency
by phone to tell them of the upcoming request and to determine the means
of communication acceptable for the assistance request.Commit your
request to writing.
◍ True or False: The contracting officer is not authorized to award a
CAS-covered contract until the Cognizant Federal Agency Official (CFAO)
makes a written determination that the Disclosure Statement is adequate..
Answer: True
◍ This exists when one or more contract line item is significantly overstated or
understated as indicated by the application of cost or price analysis
techniques..
Answer: Unbalanced pricing
◍ Single-source Procurements.
Answer: You need to remember that you CANNOT force a final price/cost
that will be below cost on the offeror, even if you believe that the offeror
has the financial ability to absorb the probable loss. Instead, negotiate a
contract with a type and price that is likely to cover all allowable costs of
, performance, assume reasonable economy and efficiency, and provide a
reasonable profit. Review FAR 15.404-4 and DFARS 215.404-4 on profit
analysis. Ensure your opening position is based on a more optimistic reading
of the potential production improvements, risks, and costs of providing the
contract deliverable rather than targeting price.
◍ What steps are involved in the overhead rate development process? Select
all of the correct answers..
Answer: -Estimate indirect cost allocation bases-Estimate indirect cost
rates-Estimate indirect cost pools for the period-Estimate sales volume
◍ Which of the following questions should you ask to identify any proposed
direct material that should be classified as an indirect cost?.
Answer: Is the material cost proposed and accounted for in a manner
consistent with the contractor's disclosure statement and documented
accounting practices?Has the offeror consistently treated material similar to
the proposed material as direct material?
◍ The DD Form 250, Material Inspection and Receiving Report, serves as
evidence of inspection and acceptance, shipping document, receiving
document, and contractor invoice for supplies and services..
Answer: True
◍ Which one of the following is a characteristic common to fixed-price
contract types?.
Answer: The contractor is obligated to deliver a specific supply or service
(CORRECT)
◍ What are the exemptions to the CAS?.
Answer: Exemptions to the Cost Accounting Standards are if contracts are
based on established or market prices or fixed by law or regulation, small
businesses, and all contracts awarded using sealed bidding.
◍ What is the range for the following numbers? 13, 12, 9, 15, 11, 16, 17, 8, 12,
7, 12.
Answer: 10
